BHP Billiton and Rio Tinto Group have been prevented from selling iron ore on the spot market in China by industry arms of the Chinese government, Bloomberg reported, citing a report from Australian paper The Age. Neither BHP Billiton nor Rio Tinto has been able to send a single spot shipment to China since January 1. Meanwhile, spot sales from other companies have been able to continue. The boycott may have already cost Australia as much as US$276 million in export profits.
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